Google Third Quarter Results - Large rise in profits with 40 million Users

Google has announced the third quarter results; the report says Google has made a large rise in profits in the three months to September. The search engine said net income in the third quarter surged 26% to $2.73bn (£1.74bn), up from $2.17bn in the same period last year.

Google reported quarterly revenues of $US9.72 billion which the company said was an increase of 33% compared with the third quarter of 2010, with net income of $US2.73 billion compared with $US2.17 billion in the third quarter of 2010, an increase of about 26%.

Google said its revenues were calculated consistent with normally accepted accounting principles (GAAP), without withholding traffic acquisition costs, the portion of revenues shared with Google's partners, which were $US2.21 billion, or 24% of advertising revenues,Google said.

Google chief executive Larry Page said the company had had a great quarter. “Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!"